Gitcoin
Crypto Overview
Purpose and Utility
Gitcoin (GTC) is a governance token for the Gitcoin DAO, a platform that aims to fund and coordinate public goods in the Web3 ecosystem. The token enables holders to participate in governance decisions regarding the platform's development, grant distributions, and protocol parameters.
Business Model Analysis
Gitcoin's core business model revolves around quadratic funding for open-source projects and public goods. The platform facilitates matching funds for projects that benefit the broader crypto ecosystem. GTC token holders can vote on funding rounds, protocol upgrades, and treasury management.
Real-World Adoption
Gitcoin has demonstrated significant real-world utility through its grants program, which has distributed over $50 million worth of funding to thousands of projects. The platform maintains active participation from both donors and project creators, with regular grant rounds and consistent governance activity.
Development Activity
The project maintains active development with regular updates to its protocol. The ecosystem includes multiple workstreams focused on different aspects of public goods funding, including fraud detection, grant coordination, and protocol improvements.
Token Distribution
GTC's initial distribution allocated tokens to the community (50%), core team and future team members (35%), and protocol treasury (15%). Team tokens are subject to a 4-year vesting schedule, indicating a long-term commitment to the project.
Revenue Model
The platform's core operations do not involve interest-based lending or prohibited activities. The focus is on facilitating donations and coordinating public goods funding through transparent mechanisms.
Crypto Impact
To assign a comfort level investing in Gitcoin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Gitcoin.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.